Fund manager outlines 4 silver lining to recent Bitcoin sell-off

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The price of Bitcoin steeply pulled back yesterday, on February 23. Following the major 17% correction, investors and fund managers remain generally optimistic. What’s behind the optimism towards Bitcoin? Typically, after such a large sell-off, the market sentiment often dwindles. However, in the case of Bitcoin in the last 24 hours, the market sentiment has improved significantly. Kelvin Koh, a partner at the Spartan Group, an advisory and one of Asia’s biggest DeFi-focused funds, outlined four silver lining to the recent correction. Silver lining to the latest selloff:1. Tether FUD played out2. Leveraged wiped3. Weak hands shaken out4. Technicals looking the best in a few months — SpartanBlack (@SpartanBlack_1) February 24, 2021 Shortly before the Bitcoin recovery, Bitfinex settled with the New York Attorney’s office regarding a lawsuit against the exchange and Tether. The official press release from the Attorney’s office read: “An agreement with iFinex, Tether, and their related…

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